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B672 Secured Transactions

Description This course focuses on one of the most important devices in facilitating consumer and commercial credit: security interests in personal property. The course emphasizes Article 9 of the Uniform Commercial Code, but also covers other topics in secured financing such as asset securitization and security interests in intellectual property. The term #property# for the purpose of the course includes tangible and intangible items such as motor vehicles, goods in store inventories, rights in copyrights, trademarks and patents, agricultural products and commodities, contract rights, payment intangibles, accounts receivable, and equipment.
The textbook for Spring 2015 is Lynn LoPucki & Elizabeth Warren, Secured Credit: A Systems Approach (7th edition, 2011) (ISBN: 978-1-4548-0400-0). Please also purchase Elizabeth Warren, 2014 Bankruptcy and Article 9 Statutory Supplement (ISBN: 978-1-4548-4052-7).
Please bring both the textbook and statutory supplement to class each day the course meets. I strongly recommend not relying on an electronic version of Articles 1 and 9 for this course because you need to be able to follow it along with us in class as well as take notes.
This course uses a problems-based approach to secured credit. You are expected to attend every class (including the first class) prepared to discuss the assigned materials and problems. At the beginning of class, we sometimes briefly will discuss the theory and substance of the law. Most or all of the class sessions will be spent working through a series of problems. Please plan to prepare each problem assigned in advance of class and bring your answers (and questions) to class.
There is no prerequisite for this course. It is recommended that you take Secured Transactions if you plan to take Bankruptcy. Secured Transactions also is a versatile course: some knowledge of secured credit is helpful in understanding the pitfalls of the transactions your future clients will be entering into, and through the course#s examination of Article 9, you will learn how to analyze and interpret statutes.
This course will have an in-class examination consisting of one longer essay question and two or three short-answer questions.